Wagered gaming has been around for centuries. It is a pastime that provides a form of entertainment and excitement enjoyed by many people. The primary location where gaming takes place is at a casino. These are establishments specifically licensed by a local law enforcement agencies to allow such gaming within an established legal framework. Casinos offer many forms of gaming to the player. There could be, for instance, sports betting, where a player makes a wager on the outcome of a sporting event. The casino could also offer live poker where players sit around a large table and play various poker games, such as Texas Hold'em, Seven Card Stud or Omaha, against other players. Common to many casinos are table games such as Blackjack, Roulette, Baccarats, Pai Gow and Craps, among others, which are played at a table but against the casino or house and not against other players. Games played against the house are referred to as “banked” games since winnings are received from the casino's “bank” and losses are paid to the casino's bank. Thus, the casino has a stake in the game. All banked games are designed so that the return to player (RTP) percentage, also called the payout percentage, is less than one hundred percent (100%). This is the calculated percentage returned to the player over a theoretically infinite number of outcomes in relation to the wager. The fact that it is less than 100% helps to ensure that the casino will generate revenues over the course of time. Thus, it is possible for the casino to lose to players on occasion, but over a significant period of time, the casino should almost always come out ahead. The game math is designed this way with the RTP percentage range generally controlled by the regulatory framework of the respective jurisdiction in which it resides.
Non-banked games, such as live poker, are, as mentioned, played against other players. A player's win or loss thus comes from or goes to the other players at the table and not the casino. The casino derives revenues from such games by establishing a “rake”, which is generally a percentage of the amount wagered or some pre-established set amount.
With the advent of mechanical and (later) video slot machines, slot games became prevalent and are now one of the most common forms of gaming typically seen in the casinos. The video slot machine, also known as the video gaming machine or electronic gaming machine, among other names, not only provides the player with slot games, but can also include games such as Blackjack and Roulette. The video slot machine is essentially a computer having input and output means and a video monitor. So, any game that is capable of being implemented in the machine through software, displayed on a monitor, controlled, as necessary, through input and output, and approved by local regulatory agencies, can be offered to the player through these devices. However, it is the slot game that is most dominantly seen with these devices.
Since it is the goal of the casinos, as it is with any business, to generate revenues, it pays to have games that can be played in a continuous manner with as little time as possible between game outcomes. The quicker the play of the game, the more times it can be played within a given period of time. This provides for more wagers per unit time and thus ultimately more revenue. Many of the games noted above are designed for this type of continuous, high cycle play. For instance, each slot game outcome or video poker game outcome can take as little as a few seconds between successive outcomes. Wagers can be automatically placed and the game can even be made to commence automatically after the conclusion of the previously played game in a repetitive cycling in order to increase the speed of play. Although this type of continuous, high speed play appeals to the casinos due to the potential for higher revenue generation, it does have disadvantages that detract from the playing experience for many players and potential players.
Most players who play games such as slots, blackjack and video poker in a continuous, repetitive manner, generally play without breaks between game outcomes. Given the house advantage (i.e. a return to the player of less than 100%), a player with a limited budget can thus exhaust funds allocated for wagering in an unanticipated, or at least undesired, small period of time. Of course the player could attempt to slow down their play or reduce the amount wagered, but these are only mitigating means that allow for an expansion of playing time. And most players do not want to sit idle between plays; at least not for the purpose of slowing down game play. They want to play continuously, but may nonetheless be fearful that their funds will run dry within a short period of time. Many players will avoid the casinos and the play of these games for this reason. Thus, there would be an advantage in a means that attracts and maintains players that are otherwise hesitant or simply will not come to the casinos because of the potential for a quick loss of funds. The cost/benefit analysis or cost/entertainment analysis is simply not met by some thereby causing them to forego wagered gaming as a form of entertainment. But if a means could be implemented to alter the equation, more players would be incentivized to play. This is true not only for those hesitant to come to the casinos, but also for those that may play online through the Internet using their computers and mobile devices.
In fact, the disadvantage is, perhaps, amplified for those that play over the Internet through online virtual casinos. This is because the Internet reaches a broader group of people. Many that might otherwise play may not do so due to the same potential for quick loss of funds. The percentage of potential players with that attitude would arguably be larger for those with access to the Internet in a legal gaming jurisdiction than for those that take a proactive step to visit a bricks and mortar casino due to the larger population segment and also because those players are less likely on average to be risk takers since, on average, they are less likely visit the land-based, bricks and mortar casinos.
A further disadvantage, associated with those noted above, is that the wagering scheme is all too consistent. Therefore: (i) a wager is made on the outcome of an event; (ii) a random event is generated; (iii) a win/loss result is determined in relation to the wager; and (iv) the player optionally repeats (i) through (iii). As noted, this repetitive, cyclic process occurs for most games played at a casino—regardless of whether it is a real bricks and mortar casino or virtual casinos. It would be an advantage if a new and different type of wagering scheme were developed for players that would provide a different kind of gaming experience whereby continuous wagering is not required albeit continuous outcomes are perceived and awarded.
U.S. Pat. No. 8,360,857 by Walker discloses flat rate game play sessions whereby a contract is formed with the player such that for a consideration in the form of a money, a given duration of play, a given number of plays, and/or play for a number of qualifying events is provided to the player. One price is paid for a number of plays. However, although this modifies the wagering scheme to some degree, each game play is provided an individual wager and the winnings to the player are determined based on each individual outcome in the same cyclic manner as that described above.
Thus, there would be an advantage in a wagering scheme that is both different from that typically used in wagered-based gaming games and that allows that player to receive a gaming experience for a relatively lengthy period of time without the high risk of quickly losing their available wagering funds.